BALLYBOFEY has the highest commercial vacancy rate in the country with almost thirty per cent of units in the town now empty. That’s according to the latest GeoView Commercial Vacancy Rates Report which found that Donegal as a county has the highest vacancy rate in Ulster at 16.8 per cent, a 0.2 per cent increase on last year. This was above the national average of 13.6 per cent of properties in the state classified as vacant in June this year.
Ballybofey’s vacancy rate of 29.2 per cent also represents an increase of 0.2 per cent from the same period in 2020. Letterkenny has a vacancy rate of 21.7 per cent, followed by Donegal Town (17 per cent), Bundoran (14.1 per cent) and Buncrana (13.1 per cent).
There were 1,239 address points in Donegal between April and June this year which is down from 1,244 over that period in 2020. The report outlines how Donegal had 6,432 occupied units. Of those units 51.1 per cent were occupied by services and Bundoran had the highest proportion with 76 per cent of its stock taken up by service type premises.
Retail and wholesale accounted for 23 per cent of occupancies and Letterkenny had the highest proportion of these types of premises (27.5 per cent).
A total of seven per cent of premises in the county were occupied by health services and again Letterkenny had the highest proportion (11.5 per cent). Across the county 3.8 per cent of premises were occupied by the construction sector, 5.4 per cent by industry, 5.1 per cent by education, 1.7 per cent by financial institutions and three per cent were occupied by public administration.
Commenting on the report Dara Keogh, Chief Executive of GeoDirectory said: “The report found a noticeable decline in the number of retail and wholesale units in the country, with 1,931 fewer premises recorded than this time last year.
“There still appears to be a very prominent gap in economic activity on the east coast compared to the west coast and this is something which will need to be addressed on a policy level.”
Annette Hughes, Director at EY Economic Advisory, noted that the report covered the period up to the end of June when restrictions were in the early stages of being eased.
“The further reopening of indoor hospitality at the end of July and the more general relaxation of Covid-19 restrictions is giving rise to an early rebound in economic activity,” she said.
“While the sustainability of some businesses in the hospitality sector may be tested after the summer staycation season, the hope is that progress on the vaccination programme reduces any risk of a resumption of further restrictions and the domestic economic recovery gathers momentum over the coming twelve months,” she concluded.
Donegal was among the counties with the highest concentration of accommodation and food establishments. It had the third highest (19.3 per cent) behind Kerry (24.4 per cent) and Clare (20.7 per cent).
Receive quality journalism wherever you are, on any device. Keep up to date from the comfort of your own home with a digital subscription.
Any time | Any place | Anywhere
SUBSCRIBE TO CURRENT EDITION TODAY
and get access to our archive editions dating back to 2007(CLICK ON THE TITLE BELOW TO SUBSCRIBE)